Sensex sheds 198 points

print   ·   T  T  

MUMBAI: After a strong start, the markets ended down on Friday with the Bombay Stock Exchange benchmark Sensex closing 198 points lower in choppy trading as sentiment was dampened amid hints of tighter monetary measures by the Reserve Bank of India, after a hike fuel prices even as inflation rose further to 8.24 per cent.

Marketmen said after a promising start markets remained volatile throughout mainly due to selling pressure from foreign funds after market regulator Securities and Exchange Board of India (SEBI) on Thursday ruled out relaxation of curbs imposed on Participatory Notes (PNs) last October.

The 30-share Sensex on the BSE fell by 197.54 points or 1.25 per cent to 15572.18. The broader 50-share S&P CNX Nifty of the National Stock Exchange declined by 49.15 points or 1.05 per cent to 4627.80.

Markets did not track buoyant global cues due to negative domestic factors such as indications of a hike in the Cash Reserve Ratio (CRR) and short-term interest rate by the RBI. — PTI



Recent Article in BUSINESS

A trend-setter bank merger?

There is a definite need for banks to be strong and have adequate capital base »